Homework: Organization/ Self Feasibility Analysis
We are still in the Restaurant business in Texas. However, this analysis is about you, your education or experience, and your support network. This could be used for any situation such as a new job, moving across the country, or starting graduate school.
Purpose
The purpose of this homework is to test the organization and self linkages of the business. It is important to have family and friends support you, understand you, be willing to talk, and be willing to help once in a while. We are also testing to see if you are willing to "Do what it takes," and your knowledge base. Having your own business is not a 9-5 job five days a week, and requires you to make the right decisions.
Mechanics
You will notice that much of this is covered in section eight of the business plan template.
Organization/ Self Feasibility Analysis
I. What are the major reasons you want to start a business?
II. How many hours are you willing and able to put into your new venture?
III. How would you describe your tolerance for uncertainty and risk?
IV. Do you easily trust other people working with you on a common activity? Why or why not?
V. How much financial risk are you willing to take with your new venture (personal assets, debt, etc.)?
VI. Assume you decide not to start your business. A short time later, you see that someone has started the same business and is doing well. How would that make you feel? Why?
VII. What are the nonfinancial risks for you in starting a new business?
VIII. How do you react to failure? Examples?
IX. How do you react in times of personal stress? How do you deal with stress in your life?
X. How much income do you need to support your current lifestyle?
XI. How long could you survive without a paycheck?
XII. How much money do you have available to start your business?
XIII. Which of your personal assets would you be willing to borrow against, or sell, to start your business?
XIV. Whose support (nonfinancial) is important for you to have before starting your business (family, spouse, etc.)?
Format your homework according to the give formatting requirements:
1. The answer must be double spaced, typed, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the homework, the course title, the student's name, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.